Description
A vendor, an individual or a company, is a party which makes goods and services available to companies or consumers. It is basically used to describe an entity who are paid for the goods and services provided, rather than the manufacturer of the goods itself.
A Vendors’ Agreement means an arrangement between two or more parties stating terms and conditions of the work to be performed by the vendor, their rights and responsibilities termination, etc to be followed. It states certain requirements to be carried on by the vendors which are legally binding and are enforceable by law.
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